Compound Interest Calculator
CD Account from Umbrella Bank with 4.20% APY

Small differences in savings or CD rates may seem trivial. But, earning more in your savings and CD accounts can lead to much larger account balances balances over time when you examine the difference in compound interest over time. Use our calculator on the right below to see how much larger your accounts can be by moving to higher earning savings and CD rates.

Use or Change these Amounts And Rates

The Results for Umbrella Bank

Savings Boost of
$6,499 over 10 years
Cash Savings $20,000
Average Interest Earned $627

 
Umbrella Bank Interest Earned $7,125

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.44%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 88 61
2 20,088 88 62
3 20,176 89 62
4 20,265 89 62
5 20,354 89 63
6 20,443 90 63
7 20,533 90 63
8 20,623 91 63
9 20,713 91 64
10 20,804 91 64
TOTAL: $896 $627

Umbrella Bank Scenario

Rate:
4.20%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 840 588
2 20,840 875 613
3 21,715 912 638
4 22,627 950 665
5 23,578 990 693
6 24,568 1,032 722
7 25,600 1,075 753
8 26,675 1,120 784
9 27,795 1,167 817
10 28,963 1,216 852
TOTAL: $10,179 $7,125

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.